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Market Morning: Alphabet, JD Ignore Trade War, Oil Down on OPEC Spat
Alphabet’s (NASDAQ:GOOGL) doesn’t seem to share President Trump’s enthusiasm for making it hard for Chinese companies to sell to American consumers, as it has decided to partner with Chinese retailer JD.com (NASDAQ:JD) to the tune of $550 million in an effort to battle Amazon (NASDAQ:AMZN), a fellow domestic American company. Perhaps the Trump administration will decide to prosecute Google for partnering with a foreign firm for the purpose of fending off competition from a domestic one, which may endanger national security somehow. For its part, JD is trying to fend off competition from Alibaba (NYSE:BABA) which, although being a Chinese company, has an Arabic name. Perhaps the Xi administration will prosecute JD for partnering with a foreign firm for the purpose of fending off competition from a domestic one. What is the deal with all these partnerships across international lines anyway? Can’t we all just stop getting along and focus on the trade war? National security is at stake.
Read more: https://marketexclusive.com/market-morning-alphabet-jd-ignore-trade-war-oil-opec-spat/2018/06/